Stability AI raises $80 million in funding with new CEO and board

Jun 25, 2024•over 1 year ago

Amount Raised

$80 Million

LondonInformation Technology

Investors

Eric SchmidtLightspeed Venture PartnersCoatue Management

Description

Stability AI has raised about $80 million in funding, and appointed industry veteran Prem Akkaraju as its top boss. The company's generative AI tools compete with those made by Google and OpenAI, and it has also released AI models to generate audio and video using text prompts.

Company Information

Company

Stability AI

Location

88 NOTTING HILL GATE

London, England, United Kingdom

About

Stability AI is the world's leading open source generative artificial intelligence company, collaborating with public and private sector partners to bring next generation infrastructure to a global audience. Headquartered in London with developers across the globe, Stability AI's open source ethos provides the definitive path for cutting-edge research in imaging, language, code, audio, video, 3D content, design, biotech and other scientific studies.

Related People

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Funding Insights

Based on industry data

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